To rejuvenate the insurance
sector of the country, the Government of India passed the Insurance Amendment
Bill 2021 to increase the foreign direct investment (FDI) limit in the
insurance sector to 74% from 49%.The insurance sector of the country welcomed
this move wholeheartedly, because this increased FDI limit was like a panacea
for the life insurance sector and non-life segment. The increased FDI limit is not
only proving master stroke in the context of creating employment opportunities
but also giving insurance sector a momentum and significant boost, which was
desperately needed.
